Orient Cables Files DRHP To Raise Rs 700 Crore Via IPO

Orient Cables Ltd. on Thursday filed its preliminary papers with the capital markets regulator SEBI to raise Rs 700 crore via an initial public offering.

The public offer will include mix of fresh issues of shares worth Rs 320 crore and an offer-for-sale of up to Rs 380 crore.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd.

The company may consider an issue of equity shares aggregating up to Rs 64 crore as pre-IPO placement. If the pre-IPO round is completed, then amount raised will be reduced from the fresh issue.

Through the OFS, Orient Cables' promoters Vipul Nagpal, Garima Nagpal, Vipul Family Trust and Garima Family Trust will be offloading stake.

JM Financial Ltd., and IIFL Capital Ltd. are the book-running lead managers for the issue and KFin Technologies Ltd. will be the registrar.

Proceeds from the fresh issue worth Rs 91.50 crore will be used to fund capital expenditure for the purchase of machinery, equipment, and civil works at the company's manufacturing facilities. In addition, Rs 155.5 crore will be used for repayment or partial prepayment of certain outstanding borrowings and a portion will also be allocated for general corporate purposes.

The New Delhi-based Orient Cables is a manufacturing company with a primary focus on networking cables and passive networking equipment, catering to high-growth industries, including broadband, telecom, data centres, renewable energy and smart building automation.

The company manufactures a diverse range of products under the broad segments — networking cables and solutions, speciality power, optical fibre cable and solutions; and other allied products.

Revenue from operation in financial year 2024-25 was at Rs 825 crore, while in fiscal 2024 it was at Rs 657.77 crore. The profit for the last financial year stood at Rs 53.29 crore, while in fiscal 2024 it was at Rs 40.07 crore.